An exemplary businessman who from scratch built a vast empire, and continues to remain committed to the principles of success, securing his place among the world’s top billionaires for over a decade. Mr.Katsimatidis anticipates future geopolitical, economic, and technological trends, seizing emerging investment opportunities.
The Greek-American billionaire John Katsimatidis embodies a certain philosophy. Successful in all ventures, he maintains and expands his profitable companies. At 75, with a $4.3 billion fortune, he epitomizes the American Dream. Invited to the 4th International Conference of the Archons of the Ecumenical Patriarchate in Athens, he is renowned as the ‘supermarket king’ and a major player in energy and real estate. His latest venture into the small modular reactors (SMRs) market marks a significant shift, making him the first Greek-origin businessman to enter the nuclear energy sector.
SMRs are crucial to the US energy strategy, offering an economically viable and clean energy solution amid climate change challenges and competition with Russia and China. Katsimatidis’ United Nuclear Group (UNG), a subsidiary of Red Apple, aims to develop SMRs domestically and internationally. He has hired industry expert Bob Percopo as COO. UNG’s reactors, with a 60 Hertz frequency and 300 megawatts output, can power 1 million households for 67 years. Red Apple is negotiating with two states interested in acquiring SMRs, with investments potentially reaching $20 billion.
Firefighters’ protest rally on 5 June
How John Catsimatidis Became an Entrepreneur
John Catsimatidis’ journey to entrepreneurship is a compelling story. As a young Greek immigrant from Nisyros, he learned English by watching a 6-inch TV. After excelling at Brooklyn Tech HS, his mother sent him to work at a local grocery store to earn money instead of taking a summer vacation. This pivotal moment led him to become ‘Mr. 4.3 Billion.’ He recounts this in his memoir, ‘How Far Do You Want to Go? Lessons from a Common-Sense Billionaire.’
Catsimatidis enrolled in NYU’s Electrical Engineering program but left before graduating to work at his cousin Tony’s grocery store. Tony offered him a share in the business with monthly payments of $1,000. Despite his parents’ disapproval, Catsimatidis was determined to own his business, embodying the American dream.
Facing Challenges
His determination was evident when he confronted a neighborhood thug demanding protection money. Catsimatidis brought a gun to the store and threatened the thug, successfully protecting his business.
By 1974, his grocery store under the Red Apple brand had expanded across New York, making $1 million a year by age 24. He later pursued a teenage passion by earning a pilot’s license and buying a jet from Roy Disney.
Building an Empire
In the early 1980s, Catsimatidis owned an airline and, in 1986, acquired Gristedes, making it New York’s largest supermarket chain. Today, Gristedes Foods operates over 30 stores. His Red Apple Group constructs skyscrapers and manages about 2 million square feet of real estate from Boston to Miami. Recent projects include mixed-use buildings in Brooklyn and Staten Island, and ‘Ocean Dreams’ in Coney Island. In energy, his United Refining Company owns an oil refinery in Pennsylvania and operated 400 gas stations at one point.
Philosophy and Politics
Catsimatidis believes, ‘You can’t win if you’re too afraid to lose. Great success comes with great effort.’ His advice to young people is simply: ‘work, work, work.’ His success story from an immigrant family illustrates that the American dream is alive for those willing to work hard. Recently, he proposed to Warner Bros. Discovery to acquire CNN, combining business with his passion for staying on top in media and politics.
John Catsimatidis’ Political Identity
John Catsimatidis’ political identity is complex and multifaceted: ‘Am I a Republican? Yes. Am I a Democrat? Yes. Am I conservative? Yes. Am I progressive? Yes. I’m right in the middle. What am I? I am for the people. But also in favor of entrepreneurs!’ Many believe Catsimatidis aims to expand his political influence by acquiring a major media outlet like CNN, as he previously attempted with the “Daily News.” This could pave the way for his involvement in central politics in Washington.
Family and Succession
Catsimatidis’ strategic moves also aim to position his children, John Jr. and Andrea, as successors in the Red Apple Group. John Jr., now president and COO, has worked in the family business since age 18, learning the ropes under his father’s guidance. Andrea, 33, has shifted from working in the family business to politics, supporting Trump and serving as the Manhattan Republican Party chair. She maintains a high profile, having married and later separated from Richard Nixon’s grandson, Christopher, and is currently in a public relationship with Mario-Max.
Views on Greece
Catsimatidis believes Greece’s economy has great potential, praising recent government efforts to attract investment and implement reforms. He has tried to invest in Greece multiple times, including ventures in mobile telephony, aviation, and hospitality, though these efforts were unsuccessful. Despite these setbacks, his contributions are recognized, as evidenced by a commemorative stamp issued by ELTA in his honor.
